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Advantages:
Worldwide access to cash dispensers, phone and internet banking, international freephone numbers, savings accounts available in all major currencies, free banking, ability to pay in cheques for free at Lloyds bank branches, £500 interest free overdraft .
Disadvantages:
Not the highest interest rates for savings, not available to low earners .
Since I opened my Citibank account three years ago, I have not looked back. The service has proved to be extremely reliable and error free, unlike my experience with other banks. It is only when you hear of the experience of others that you realise how lucky you are. Recently my partner tried to transfer some money using the telephonebanking service of a major high street bank. It was only when she tried to make the transfer that she discovered there was a £1000 limit. There is no such limit with Citibank. Another example is when travelling abroad. Most people need to take travellers cheques and exchange these for currency while they are away. I avoid any language problems by using the free access to Visa cash dispensers worldwide.
The only problem I have encountered with Citibank is in finding out exactly what you can or cannot do with your account. For example, I wanted to know how to deposit a $US dollar cheque into my $US savings account. When you open a new savings account, you do not receive a paying in book or instructions on operating the account. The terms and conditions offer only limited help, and there is very little product information on their web site (www.citibank.co.uk). Fortunately, Citibank's customer service staff are very helpful, but should you really have to direct all queries to customer services?
Internet banking at Citibank is the best of the 5 internet banking services I have used. Log in times and transaction processing are quick, you can customise the default screen and menus, and there are no pictures to slow down switching between web pages. One very useful feature is the ability to send secure emails to customer services. I have found the response times very quick, but you can lose your work if your log in times out while you are typing. Recently I have managed to stop a cheque being credited to my account using this method. I am amazed that they found it amongst the 1000's that pass through their hands every day. Touch tone telephone banking is also available, for those occasions when you are away from your computer.
The interest rates offered by Citibank are low (0.1% up to £1,999) and are currently the same for the pounds sterling savings account. I don't find this a problem, as it is easy to transfer any savings to another account, but a higher savings account rate would provide more options.
Overall the service offered by Citibank is excellent. You just have to be prepared to seek out the possibilites that are available to you.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: free £500 overdraft, able to draw money from all ATMs without charge,free internet banking Disadvantages: no high street presence apart from London
sivam 08.04.2001 ·
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Ciao members have rated this review on average: very helpful
Review of Citibank
Advantages: free £500 overdraft, able to draw money from all ATMs without charge,free internet banking Disadvantages: no high street presence apart from London
sivam 08.04.2001 ·
Read review
Ciao members have rated this review on average: very helpful
Review of Citibank
Aug 22nd, 2001
(Aug 15th, 2002)
very helpful by (11%):
helpful by (53%):
somewhat helpful by (37%):
